The second purchase this year is part of the company’s $30 million expansion plan under CAAA NEXT, said the firm.
CAAA acquires Illawarra accounting firm
Boutique professional services firm CAAA has acquired the accounting firm Greg Rodgers and Associates, which is based in the Illawarra region and has clients nationwide.
The second purchase within the year by the firm is part of its $30 million expansion plan under CAAA NEXT, its merger and acquisition division.
CAAA founder and chief executive Fleming Stojanovski was pleased the acquisition was achieved, expanding the firm further in NSW.
“This acquisition validates the appeal of our non-public company approach to partnering with retiring accountants,” he said.
“We are overjoyed to join the Illawarra community and extend our footprint into the South Coast of NSW.”
The firm confirmed that the acquisition came with a promotion internally to existing director Keith Johnson who would be running the Illawarra office.
“It has been a great opportunity to meet with new clients and staff,” said Mr Johnson.
“With the change in staff’s working preferences we are also looking to expand the office by outsourcing local Illawarra staff to our other offices.”
CAAA said the partners of Greg Rodgers and Associates were experienced accountants and auditors whose vision and approach to running a large boutique firm aligned with CAAA’s mission.
“When searching for a company to combine our business with, it was important to us that we found a firm with similar goals, mindset and value as ours,” said Karen Deen, director of Greg Rodgers and Associates.
“It was the most important step for us to make sure our clients and staff would continue to receive the same quality of service and in the same manner that we have always delivered.”
Director of Greg Rodgers and Associates, Joe Murphy, said that the acquisition would mean the firm’s clients would be able to receive additional value and expert services.
“With a long-established successful practice, it has seen Greg Rodgers and Associates grow a diverse and geographically wide client base,” said Mr Murphy.
“CAAA brings value added to our practice and clients, with their locations and the accessibility to specialist services that it now enables us to offer as a firm.”
CAAA also confirmed that its merger and acquisition program CAAA NEXT could still acquire another firm this year, with a third project hinted at.
CAAA is a nationally recognised and internationally affiliated full-service professional services group, with offices in the Sydney CBD, Parramatta, Penrith and Illawarra.
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